What is bitcoin?


 Bitcoin is a digital currency, or cryptocurrency, that was created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. It is a decentralized currency, meaning it is not controlled by any government or financial institution. Instead, it operates through a network of computers that validate and record transactions using a technology called blockchain.


Bitcoin transactions are verified through cryptography, a process called mining, where computers solve complex mathematical equations to confirm transactions and record them on the blockchain. The blockchain is a distributed public ledger that contains every transaction ever made with Bitcoin.


Bitcoin can be bought and sold on cryptocurrency exchanges, and can be used to purchase goods and services from merchants who accept it. It can also be stored in a digital wallet and transferred to other users without the need for a bank or other intermediary.


One of the key features of Bitcoin is its finite supply. Only 21 million bitcoins will ever be created, which makes it a deflationary currency. This has led to concerns about its volatility and potential use for illegal activities, but it has also made it a popular investment choice for those seeking to diversify their portfolios.

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